Adani group promoted Mundra Port and Special Economic Zone Ltd (MPSEZL) is planning to raise Rs 1,500 crore through an initial public offer to part fund the development of the port.
The company plans to hit the capital market through a public issue of 40,250,000 equity shares of Rs 10 each. MPSEZL the developer and operator of Mundra Port, located in Kutch district of Gujarat, is primarily engaged in providing bulk cargo services, container cargo, crude oil cargo and value-added port services, including railway services between Mundra Port and Adipur. MPSEZL is the first company from SEZ and port sector to hit the capital market. The proceeds of the issue would be utilised for the further development of Mundra port and SEZ.
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